- The International Grains Council (IGC) raised its forecast for global grain production in 2026/27 by 7 mln tonnes to 2,427 billion tonnes, thanks to improved prospects for maize and barley.
- The IGC expects global ending stocks of grain to rise to 619 mln tonnes, 11 mln tonnes more than in the previous forecast, although stocks will be lower than a year earlier.
- Grain trade is expected to fall to 450 mln tonnes from 467 mln tonnes in the previous season, with lower trade in wheat and barley and an increase in maize trade.
The International Grains Council (IGC) raised its forecast for global grain production in the 2026/27 season by 7 million tonnes to 2,427 billion tonnes, mainly on the back of improved harvest prospects for maize and barley, according to the IGC’s October report.
The Council indicated that increased supply and higher opening stocks will result in global ending stocks of grain rising to 619 million tonnes, 11 million tonnes more than forecast a month earlier.
Despite the upward monthly revision, global grain production is expected to be 68 million tonnes lower than a year earlier. The year-on-year decline will mainly affect maize, whose harvest is expected to fall by 40 million tonnes year on year, and wheat, for which a decline of 25 million tonnes is forecast.
Global grain consumption is expected to rise to a record 2,446 billion tonnes. At the same time, stocks at the end of the season will remain 19 million tonnes lower than a year earlier.
World grain trade in the 2026/27 season is expected to reach 450 million tonnes, compared with 467 million tonnes in the previous season. The IGC expects trade in wheat to fall by 15 million tonnes and in barley by 7 million tonnes, while trade in maize will increase by 6 million tonnes.
